MIB Global Supply Chain Management 3

Question 1

What is the primary purpose of a 'Harmonized System (HS) code' in international trade?

Accepted Answer

Classifying traded goods for customs and tariff purposes

Answer

HS codes are standardized numerical codes used by customs authorities worldwide to classify traded products, determining applicable tariffs and trade statistics.

Question 2

Which document serves as a contract of carriage and receipt of goods between a shipper and carrier in international shipping?

Accepted Answer

Bill of lading

Answer

A bill of lading is a legal document issued by a carrier to a shipper that acknowledges receipt of cargo and specifies terms of delivery and transportation.

Question 3

Supplier development programs in global supply chains primarily aim to:

Accepted Answer

Improve supplier capabilities and performance over time

Answer

Supplier development programs invest in improving supplier capabilities, quality, delivery, and technology to create more reliable and competitive supply chain partners.

Question 4

What is 'cross-docking' in global logistics operations?

Accepted Answer

Transferring goods directly from inbound to outbound transportation with minimal storage

Answer

Cross-docking transfers products directly from receiving docks to outbound vehicles with little or no intermediate warehousing, reducing handling time and storage costs.

Question 5

The 'triple bottom line' in sustainable supply chain management refers to:

Accepted Answer

Economic, social, and environmental performance

Answer

The triple bottom line framework evaluates supply chain performance across three dimensions: economic (profit), social (people), and environmental (planet) responsibility.

MIB - Master of International Business Practice Test

MIB - Master of International Business Practice Test

MIB Global Supply Chain Management 3